logo
Share SHARE
FONT-SIZE Plus   Neg

LaSalle Hotel Properties Prices Public Offering Of 8 Mln Shares At $23.70/Share

LaSalle Hotel Properties (LHO) announced that it has priced public offering of 8 million common shares at $23.70 per share. The company also granted the underwriters an option to buy additional 1.2 million common shares.

The company intends to use offering net proceeds to fund all or a portion of the cost of future hotel acquisitions, to reduce amounts undercredit facility and for general corporate purposes.

Citigroup and Raymond James are acting as joint book-running managers. BMO Capital Markets is acting as lead manager, Deutsche Bank Securities, RBC Capital Markets and Wells Fargo Securities are acting as senior co-managers and BB&T Capital Markets, Piper Jaffray, PNC Capital Markets LLC and RBS are acting as co-managers.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The bench to bedside journey of drugs is fraught with challenges. It is estimated that only 5 in 5,000 compounds that enter preclinical testing make it to human testing, and out of those 5, only 1 may pass through all the regulatory hurdles needed to reach pharmacy shelves. Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions.
comments powered by Disqus
Follow RTT